Section - 69, Companies Act, 2013 Transfer of certain sums to capital redemption reserve account. 69. (1) Where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account and details of…...
Notice to be given to Registrar for alteration of share capital. Section – 64, Companies Act, 2013
Section - 64, Companies Act, 2013 Notice to be given to Registrar for alteration of share capital. 64. (1) Where— (a) a company alters its share capital in any manner specified in sub-section (1) of section 61; (b) an order made by the Government under sub-section (4) read with sub-section (6) of section 62 has the…...
Power of company to purchase its own securities. Section – 68, Companies Act, 2013
Section - 68, Companies Act, 2013 Power of company to purchase its own securities. 68. (1) Notwithstanding anything contained in this Act, but subject to the provisions of sub-section (2), a company may purchase its own shares or other specified securities (hereinafter referred to as buy-back) out of— (a) its free reserves; (b) the securities premium…...
Restrictions on purchase by company or giving of loans by it for purchase of its shares . Section – 67, Companies Act, 2013
Section - 67, Companies Act, 2013 Restrictions on purchase by company or giving of loans by it for purchase of its shares . 67. (1) No company limited by shares or by guarantee and having a share capital shall have power to buy its own shares unless the consequent reduction of share capital is effected under the…...
Unlimited company to provide for reserve share capital on conversion into limited company. Section – 65, Companies Act, 2013
Section - 65, Companies Act, 2013 Unlimited company to provide for reserve share capital on conversion into limited company. 65. An unlimited company having a share capital may, by a resolution for registration as a limited company under this Act, do either or both of the following things, namely— (a) increase the nominal amount of its…...
Issue of bonus shares. Section – 63, Companies Act, 2013
Section - 63, Companies Act, 2013 Issue of bonus shares. 63. (1) A company may issue fully paid-up bonus shares to its members, in any manner whatsoever, out of— (i) its free reserves; (ii) the securities premium account; or (iii) the capital redemption reserve account: Provided that no issue of bonus shares shall be made by capitalising…...
Further issue of share capital. Section – 62, Companies Act, 2013
Section - 62, Companies Act, 2013 Further issue of share capital. 62. (1) Where at any time, a company having a share capital proposes to increase its subscribed capital by the issue of further shares, such shares shall be offered— (a) to persons who, at the date of the offer, are holders of equity shares of the…...
Power of limited company to alter its share capital . Section – 61, Companies Act, 2013
Section - 61, Companies Act, 2013 Power of limited company to alter its share capital . 61. (1) A limited company having a share capital may, if so authorised by its articles, alter its memorandum in its general meeting to— (a) increase its authorised share capital by such amount as it thinks expedient; (b) consolidate and divide…...
Publication of authorised, subscribed and paid-up capital. Section – 60, Companies Act, 2013
Section - 60, Companies Act, 2013 Publication of authorised, subscribed and paid-up capital. 60. (1) Where any notice, advertisement or other official publication, or any business letter, billhead or letter paper of a company contains a statement of the amount of the authorised capital of the company, such notice, advertisement or other official publication, or such…...
Rectification of register of members. Section – 59, Companies Act, 2013
Section - 59, Companies Act, 2013 Rectification of register of members. 59. (1) If the name of any person is, without sufficient cause, entered in the register of members of a company, or after having been entered in the register, is, without sufficient cause, omitted therefrom, or if a default is made, or unnecessary delay takes place…...